New Delhi, Jun 20 (PTI) Public sector steel companies paid over Rs 692.36 crore to micro, small and medium enterprises (MSMEs) in May this year, 35.6 per cent higher than the payment made in the same month last year.

According to an official statement, during April-May 2023, steel CPSEs (Central Public Sector Enterprises) have made payment of Rs 1,321.32 crore to MSMEs, which is 23.8 per cent higher than Rs 1,067.53 crore made during the corresponding period of preceding 2022-23 fiscal.

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Of the total payment, Rs 692.36 crore was paid in the last month, the ministry said.

The status of pending payments to MSMEs by CPSEs of the steel ministry is being monitored on a weekly basis to ensure that dues are cleared within the 45-day deadline.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)